SIG shows strong revenue growth and cash generation
Date 02.25.2020 | Category: News
- Core revenue up 5.2% at constant currency; up 7.5% as reported
- Adjusted EBITDA margin 27.2% (2018: 27.5%)
- Significant increase in adjusted net income to €217 million (€149 million)
- Free cash flow €267 million; proposed dividend increased to CHF 0.38 per share
- Net leverage reduced from 3.2x to 2.8x
Commenting on the report, Rolf Stangl, CEO of SIG, said: "Our top line performance in 2019 demonstrates the success of our growth strategy, which for many years has focused on building up markets outside Europe. At the same time, we are proving our ability to grow in the EMEA region through share gain in Europe and our presence in the Middle East and Africa, which in 2019 saw an improved economic environment in a number of countries.
“We are maintaining best in class profitability while continuing to invest in innovation and to expand into new markets and categories. Our strong cash flow generation is enabling us to invest in the business while paying an attractive dividend and reducing net leverage. In 2019, we announced the construction of a new plant in China which will underpin growth across the Asia Pacific region. The acquisition of Visy Cartons has given us a promising footprint in Australia and New Zealand, which further increases the potential of this region for us.
“Our business is sustained by key fundamentals including growing end markets driven by demographics, urbanisation and rising disposable incomes; proprietary technology and engineering know-how supporting longstanding customer relationships; and the unmatched environmental profile of our packs, which are made largely of renewable materials and are fully recyclable. In 2020, we shall continue to seize the many opportunities that our industry offers and to pursue our objective of above market growth." For more visit sig.biz
Source: SIGAuthor: COX